First Progress Platinum Prestige Mastercard Secured Credit Card ReviewsReviews, rates, fees and customer service info for the First Progress Platinum Prestige Mastercard Secured Credit Card. Compare to other cards and apply online in seconds.John KiernanWalletHubQualify with limited or no credit history1% cash back on paymentsMembership feesForeign feeRequires security deposit
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Rebuild Damaged Credit." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
The First Progress Platinum Prestige Mastercard is a secured credit card that is available to applicants in all 50 U.S. states. It requires a refundable security deposit of at least $200 when you apply and charges an annual fee of $49. The First Progress Platinum Prestige Mastercard® Secured Credit Card also reports account information to all three major credit bureaus each month. That means it can help you build credit as long as you manage the account responsibly.
WalletHub Rating Breakdown
User Reviews
3.4/5
2,613 reviewsRead and write reviews
Editor’s Review
2.7/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
3.7
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Rebuild Damaged Credit” for this card.
Fees
3.0
Rewards
5.0
Cost
3.2
APR
3.8
Other Features
4.3
3.7/5
Compared against 1,500+ credit cards
KEY TERMS
Accepted Credit Scores
Accepted Credit Scores
Fair Credit, Limited History, No Credit, Bad Credit
First Progress Platinum Prestige Minimum Security Deposit
$200
First Progress Platinum Prestige Fees
One-Time Fees→$0
Annual Fee→$49
Monthly Fee→$0
First Progress Platinum Prestige APR on Purchases
15.24% (V)
First Progress Platinum Prestige Rewards
1% Cash Back Rewards on payments
First Progress Platinum Prestige's Additional Info
Choose your own credit line - $200 to $2000 - based on your security deposit
Build your credit score.¹ Reports to all 3 credit bureaus
No minimum credit score required for approval!
¹ Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
The First Progress Platinum Prestige Mastercard is a secured credit card that is available to applicants in all 50 U.S. states. It requires a refundable security deposit of at least $200 when you apply and charges an annual fee of $49. The First Progress Platinum Prestige Mastercard® Secured Credit Card also reports account information to all three major credit bureaus each month. That means it can help you build credit as long as you manage the account responsibly.
First Progress Platinum Prestige Review Highlights:
Hefty annual fee. There are 40+ secured credit cards, including two others from First Progress, that have lower annual fees than the $49 assessed by the First Progress Platinum Prestige Mastercard. And since fixed costs are one of the two biggest things to consider when comparing secured cards, along with your approval odds, you shouldn’t waste much time on First Progress Platinum Prestige.
Low regular APR. The First Progress Prestige Credit Card has one of the lowest APRs among secured cards. But aside from the fact that lower rates are available, carrying a balance from month to month with a secured card is just a bad idea. It basically amounts to paying interest on a loan you’ve given yourself. You can’t spend more than the amount of your refundable deposit, after all.
1% cash back. The First Progress Platinum Prestige Card rewards users with 1% cash back on all account payments. In other words, you get 1% back on all purchases but only after you repay First Progress for the charges. Most credit cards with rewards offer at least 1% back on purchases.
$200 minimum deposit. To be considered for the First Progress Platinum Prestige Secured Mastercard, you must place a refundable $200 deposit at the time you apply. If you don’t get approved, you’ll immediately get the money back, so that stipulation isn’t a big deal. More concerning, however, is the fact that you’ll have to get First Progress’s permission to add to your deposit in the future. That makes it harder to increase your available credit, decrease your credit utilization and expedite credit improvement.
Lenient approval requirements. You don’t need a certain credit score – or any credit history, for that matter – to get approved for the First Progress Platinum Prestige Mastercard Secured Credit Card. You just have to be at least 18 years old (19 in Alabama and Nebraska) with a valid Social Security number and no prior history as a First Progress cardholder.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Rebuild Damaged Credit." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
2.7
User Reviews
3.4
Market Comparison
3.7
fees: 3.0
rewards: 5.0
cost: 3.2
APR: 3.8
Other Features: 4.3
4.7WalletHub Rating
WalletHub Rating
4.7
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Editor’s Rating
5.0
User Reviews
3.3
Market Comparison
4.8
fees: 5.0
rewards: 5.0
cost: 5.0
Other Features: 3.0
4.7WalletHub Rating
WalletHub Rating
4.7
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Can't find what you are looking for? Submit your question about First Progress Platinum Prestige Mastercard® Secured Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
You can get approved for the First Progress Platinum Prestige card even with a credit score of 300. That means even people with bad credit have a shot at getting approved for the card. It's worth noting that the First Progress Platinum Prestige card accepts people with limited credit, too.
You should also note that while the credit score requirements are lenient, approval is not guaranteed. Your application can still be rejected if you have a pending bankruptcy on your credit report, or if you can't afford to fund the card's security deposit.
You can pay your First Progress Platinum Prestige deposit by entering your checking or savings account information in your application form, If you get approved, your security deposit will be funded by the account you provided on your application.
The amount that you choose to deposit is from $200 up to $2,000 and it will be placed in a non-interest bearing deposit account at the issuer and held there until you close your card account.
The starting credit limit for the First Progress Platinum Prestige card is $200. This is the minimum refundable security deposit you need to make in order to open your account.
This amount will also serve as your credit limit, not allowing you to spend more than you can actually afford.
With First Progress' approval your credit limit can be increased over time up to $5,000. This will require you to make additional deposits.
Yes, First Progress will check your credit if you apply for a Platinum Prestige credit card. But it will only do a soft pull, without hurting your credit score.
So your chances of approval are high even with a bad (300+) credit or without a credit score at all.
You cannot qualify for a First Progress Platinum Prestige graduation.
Currently First Progress doesn't offer any unsecured cards.
If you've managed to improve your credit score and have at least a fair (640+) credit, you could apply for another credit card, one that's unsecured. Click here to check out the best offers.
You can make a First Progress Platinum Prestige Mastercard® Secured Credit Card payment online, by phone, through the First Progress mobile app or by mail. To pay a First Progress Platinum Prestige bill online, log in to your online account and find the payment button. Then, choose how much to pay, when to pay it, and where the payment is coming from. First Progress does not allow cardholders to set up automatic payments.
Ways to Make a First Progress Platinum Prestige Payment
Share your insights and review for the First Progress Platinum Prestige Mastercard® Secured Credit Card
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3.4
2,613 reviews
2,613 reviews
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Aerial Guy @aguymmai4
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1 Star Rating
Scam you'll lose money faster than you can build your credit. They charged me 49$ to send me a card I have to deposit $200 on then pay fees on top of. It's just another late fee wait to be added to my bills
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Lamont-Tramell Collins @LamontTramell
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1 Star Rating
Verified Customer
First Progress is the Worst
First Progress is a fraud Company. Initially, I opened 3 cards on March 11, 2023 with First Progress and on March 17, 2023 I decided not to move forward. So, I called First Progress to withdraw my application. They prolonged my request for a refund in order to buy time so that accounts could be generated for me even though I was still in the application process. Once the “accounts” were created they then are able to hold your money under the terms and agreement of an “account holder”, which is ten weeks. Not only that, they have applied an annual fee for cards/accounts that I have never even seen or have any information of which have a negative impact on my credit. I’m new to credit and this has been a horrible first experience. First Progress opened accounts without my authorization, which is fraud!!! Remember these names: Helen, Roger, Sergio, and Daniel. Save yourself the headache
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Heather @tallyn328
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4 Star Rating
Verified Customer
Awesome credit card company who give chances to people with bad/fair/ or not so perfect credit. Haven’t received my card yet though it’s been almost a month in total soon
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Ashley Wescott @awescottrn
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1 Star Rating
Zero grace period. 3 days late and it ended up on my credit. (this is unheard of it's usually 25-55 days on average) They don't allow electronic transfers so if the mail or your bank slows things down you've taken a hit on your credit. I have a total of 4 "late payments" listed on my credit... 3 of the 4 were from this credit card. Do not recommend just for the inconvenience of actually making on time payments. It's like they set people up to fail even when they have the means to make the payments. I'll be closing the card now. I held off just because removing it could hurt my credit but clearly it's more of a risk then it's worth.
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Henry N @henrynguyenvu
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2 Star Rating
Verified Customer
Payment can only send by check (cannot do electronic bank transfer), it takes 3-5 days for a bank send check to First Progress and another 10 days on hold before the available credit gain back. I recommend using this card with a small amount to avoid the slow payment processing make you get caught with a high utilization rate.
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Adam @asalt55555
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5 Star Rating
Verified Customer
Excellent starter card at 9.9% how. Can. You. Go. Wrong? It. Boosted my score 56 points. Before. I even received the card. In the mail.
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price_cassius24 @price_cassius24
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1 Star Rating
Verified Customer
If I could give no stars I would worst credit card ever, they don’t care about clients and are thieves! Closed my account even after I sent them personal info to P.O. Box with receipt claimed they never got it and closed my account. Terrible company
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Adam @adam_segovia1978
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1 Star Rating
Verified Customer
DO NOT APPLY FOR THIS CREDIT CARD, SCAM!!! They will do a hard inquiry and they do report. My credit score dropped 71 points after being approved. I'm trying to build my credit and I paid them $200.00 to have score lowered by 71 points. They are LIARS!!!! Their inquiry is on my credit report. I spoke to customer service and they told me that "negative reporting" is not the same as "reporting" that incurs a negative result.
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4
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randallm40 @randallm40
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1 Star Rating
Join your local credit union and save money this type of deal is all bad for anyone. I had a secured card through mine for a year and now have an unsecured one for almost four years with a $5,000 limit and low interest. Best part is no yearly or monthly fees are added by credit unions and they work with you.
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Christopher @c64a85s
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5 Star Rating
Verified Customer
The people at first progress saved me by finding all of the fraud charges, and letting me know that that was why my credit score tanked so bad.
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Review First Progress Platinum Prestige Mastercard® Secured Credit Card
First Progress Platinum Prestige Mastercard® Secured Credit Card
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